LC Partnership Provisions. (a) If Lyondell (Pelican) LP1 and OCC make the election described in Section 14.1, then (a) the LC Partnership shall be formed under the laws of Delaware, (b) the two partners of the LC Partnership shall be the Partnership and OCC and (c) the Partnership shall have an equity ownership interest of 49.9%, and OCC shall have an equity ownership interest of 50.1%.
Appears in 8 contracts
Samples: Lease Agreement (Equistar Chemicals Lp), Lease Agreement (Millennium Chemicals Inc), Agreement (Equistar Chemicals Lp)